Family finances, lies, and warning signs

We expect a certain amount of discretion when discussing financial matters: How much money you make, how much you paid for those earrings, and so forth. But there should be no secrets between spouses, right?

Well, sometimes there are. A survey by the Denver-based National Endowment for Financial Education found that among couples, 31 percent have deceived their partner about money. More than 50 percent admit to hiding cash or minor purchases, and 34 percent said they’d lied about either their income or their debt.

The consequences can be severe: 16 percent of survey participants said their dishonesty about money resulted in divorce. NEFE advises partners to watch out for these warning signs:

Reluctance or anger around discussing finances
Major purchases made without discussion
Bills or charges for purchases you weren’t aware of
Lines of credit secretly opened in your partner’s name—or yours